PARIS (Reuters) - PSA Group (PEUP.PA) and Toyota (7203.T) have decided to end joint production of small cars by 2021 but will add cooperation in light commercial vehicles, French newspaper Les Echos reported on Thursday.
Toyota will acquire PSA’s stake in the joint venture created by the two carmakers and will integrate the Czech plant of Kolin into its industrial apparatus, the newspaper wrote without citing sources.
The two groups will expand cooperation in the production of light commercial vehicles in France and Spain, Les Echos added.
PSA would go on assembling commercial vehicles for Toyota at its Sevelnord plant in northern France, while the group’s Spanish factory in Vigo would produce new Toyota vehicles.
“Regarding Kolin, the initial agreement of the joint venture which was signed in January 2002 includes a close which enables each partner to review its position at a given moment. We are in this evaluation process. Nothing has been decided,” a spokesman with PSA wrote in an emailed statement.
Reporting by Mathieu Rosemain; Editing by Matthias Blamont/Mark Heinrich